Kent advice firm fails with three pension transfer claims

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Kent advice firm fails with three pension transfer claims
[Pexels/sl wong]

A Kent-based advice firm with three pension transfer claims against it has failed.

H&F Financial Limited was declared in default by the Financial Services Compensation Scheme on Friday (February 10).

All three claims against the firm concern pension transfers, but none are related to the British Steel Pension Scheme.

H&F Financial was wound up in July last year. That same month, a voluntary liquidator was appointed.

Its last accounts were made up to March 31, 2021, with 2022 accounts currently overdue.

In a statement of affairs published mid-last year, it shows £240,000 in contingent claims.

At the time, the firm - which employed some four people - had just over £46,000 in assets.

Last month, at least 10 advice firms failed with the FSCS.

The lifeboat scheme is also currently investigating Portal Financial Services LLP, entered liquidation in January following hundreds of complaints filed against it over poor advice.

The pension advice firm has not yet been declared in default, as a claim is yet to be classified as 'valid'.